Prices at the gas station have gone bananas both in Europe and America. In the US also a drastic change of presidency has taken place which had an effect on everything, obviously. But let’s first have a look at what happened in Europe before Putin’s war. During the pandemic, workers were sent home, borders closed, flights were canceled, events forbidden. Fuel demand plummeted and prices at the pump in Europe hit rock bottom. Some of the private oil companies closed their taps on their more expensive locations as it didn’t pay off anymore at such a low price. Then came the post-pandemic catch-up and European prices went through the roof. And then there was Putin. The US went through a comparable cycle but also faced in the same period a change of politics. I am raising 3 questions, which I try to answer as honest as possible: Does Biden with his policy share in the blame of the price explosion? Yes, he does. Is Biden solemnly to blame for this? No, that’s a fairytale. There were also other major factors in the game, already before his presidency, as described above. Should Biden change course? Yes, on this point he should. Drastic circumstances demand drastic measures even if it means a change of course. Even Elon Musk says: “drill!” which should ring a bell. I am trying to wrap my brain around Biden’s approach, but I don’t understand. He is now knocking at the door of the old club who hate us because of our freedom. Stop your doubtful attitude, Biden, release your permits and tap on your own soil! And if for some reason the American private oil companies can’t accelerate fast enough to meet demand, OK, then teeth-grinding I will accept you temporarily giving an extra injection from abroad, but get your priorities straight! And Europe, exactly the same! There is nothing ungreen about not importing energy from countries that hate us. And tapping on one's own territory instead of abroad does have to get in the way of green energy development.
